Posted on: 24th Jun, 2009 02:59 pm
I was originally financed with GreenPoint with my mobile home. I was informed that GreenTree will be my mortgagor, from that day I am being harassed about my monthly payments. If I can't meet the payment on the due date and I try to let them know when it would be paid, all I get is the run around. They surly don't know how to talk to their customers, which makes me wonder if they are holding the tittle to my home. Please give me some advise on lowering my payoff. I bought this home in l999 and I'm being told that my payoff will be in 2030 and I have a single mobile home.
ezakshun
these companies do not lower the payoff to those guys who are regular on their payment.
you can try for refinance with lower rates.
keep in touch.......
these companies do not lower the payoff to those guys who are regular on their payment.
you can try for refinance with lower rates.
keep in touch.......
Hi Ezakshun,
You are the owner of the mobile home and you hold its title. But since there is a mortgage on the property, the lender can take the ownership from you and foreclose on it, in case you default on the loan. If you purchased the home in 1999 and have taken a 30 year mortgage on it, your payoff would be sometime in 2030. If you want to reduce the term of the loan and pay it off quickly, you can refinance the loan to lower the term to 15 years. It will also reduce your interest as you will be paying off the loan faster.
You are the owner of the mobile home and you hold its title. But since there is a mortgage on the property, the lender can take the ownership from you and foreclose on it, in case you default on the loan. If you purchased the home in 1999 and have taken a 30 year mortgage on it, your payoff would be sometime in 2030. If you want to reduce the term of the loan and pay it off quickly, you can refinance the loan to lower the term to 15 years. It will also reduce your interest as you will be paying off the loan faster.